Debate as to the fate of the Mac mini has circulated for months, but now it appears the product is to get a well-deserved revamp as Apple sees the sense in offering a lower cost computer.

Apple has assigned an engineering team to overhaul the machine, planning to equip it with a faster (from 2.1GHz) 45-nanometre Core 2 Duo chip (Penryn), with improved system bandwidth and a better graphics processor.

These claims emanate from AppleInsider, a website which has previously claimed the Mac mini may be deleted from Apple’s range. However, with a looming recession described by former UK Chancellor Norman Lamot last week as “the biggest financial disaster since WWII,” and a move by key partner Intel to favour low cost computing, the move to terminate sales of the most affordable Mac could be seen as confounding in the current market.

The report also claims Apple is preparing to upgrade its iMac range in future.